SCHEDULE 7 Payment of CGT Exit Charges
Finance Act 2019 (2019 c 1) | Legislation

SCHEDULE 7 Payment of CGT Exit Charges

Section 22

CGT exit charge payment plans

1

In TMA 1970, after section 59BA insert—

“59BB CGT exit charge payment plans

Schedule 3ZAA contains provision for the payment in instalments of capital gains tax to which liability arises by virtue of section 25 or 80 of the 1992 Act.”

2

After Schedule 3ZA to TMA 1970 insert—

“SCHEDULE 3ZAA
CGT Exit Charge Payment Plans
Section 59BB

Introduction

1

(1)     This Schedule makes provision for certain persons who are liable to pay an exit charge under section 25 or 80 of the 1992 Act to agree with HMRC to pay the charge in instalments.

(2)     An agreement under this Schedule is called a “CGT exit charge payment plan”.

Eligibility

2

(1)     This paragraph applies where a person resident in an EEA state outside the United Kingdom is liable to pay an exit charge for a tax year by virtue of section 25(1) or (3) of the 1992 Act (deemed disposals by non-residents).

(2)     The person is eligible to enter into a CGT exit charge payment plan in relation to any one or more of the assets to which the exit charge

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